The market is trading up and not reacted too much to higher inflation numbers as it stood at 8.24% for the week ended 24th May 2008, as against 8.10% in the earlier week which is according to the market expectation of 8.25%. Indian markets opened with gains but turned volatile due to the investor’s cautious behavior on the back of inflation fear but able to gather the momentum after mid session. Capital Good, Metal and Banking stocks are most favorable stocks while FMCG stock out of favor due to the selling pressure. Among the Sensex pack, 16 stocks are trading in green and 14 stocks are trading in red.

At 1.35PM, the BSE Sensex is trading higher by 95.84 points at 15,865.56 and NSE Nifty is also up by 36.05 points at 4,713.00.

The BSE Mid Cap and Small Cap are also trading up by 44.31 points and 65.31 points at 6,444.60 and 7,800.90.

Gainers from the BSE are mahindra and Mahindra In trading up by (4.49%) at Rs588.00 followed by BHEL by (3.23%) at Rs1,491.5, Rel Com Ltd by (1.81%) at Rs557.05, HDFC Bank Ltd by (1.77%) at 1,265.00, Reliance Infra by (1.65%) at Rs1,149.50 and ICICI Bank Ltd by (1.44%) at Rs792.50.

The Capital Goods index is trading up by 127.27 points at 12,238.90. Contributed by Suzlon Energy trading high by (5.73%) at Rs284.00 along with BHEL by (3.34%) at Rs1,493.00, Crompton Grevances by (2.82%) at Rs244.10, Lakshmi Ma W by (2.31%) at Rs1,440.00, and BEML Ltd (1.51%) at Rs1,443.90.

The Metal index is trading higher by 101.64 points at 15,816.23 as Sterlite Indus is trading up by (4.59%) at Rs872.00 followed by Sesa Goa Ltd In by (4..36%) at Rs3,690.00, Gujarat Nre C (3.59%) at Rs134.35, SH Precoated by (2.99%) at Rs150.00, and Ispat Indus by (0.68%) at Rs29.70.

From the telecommunication sector, Reliance Communications is trading up by (2.31%) at Rs559.2 along with Tata Communications by (0.55%) at Rs492.55 while Idea Cellular Ltd is trading down (0.51%) at Rs106.40 with Bharti Airtel by (0.34%) at Rs819.7.

In Cement sector Ambuja Cements Is trading higher by (0.82%) at Rs86.50 along with Grasim Industries Ltd by (0.52%) at Rs2,260.10.

From the Auto sector Mahindra & Mahindra is trading higher by (3.94%) at Rs585.25 along with Tata Motors Ltd by (0.95%) at Rs538.05 while Hero Honda Motors is trading down by (1.31%) at Rs759.00.

BHEL is trading up by (3.23%) at Rs1,491.5. The company has entered into a Joint Venture with NTPC to form a company NTPC Bhel power projects Ltd for manufacturing, taking up engineering, procurement and construction (EPC) contracts and to make balance of plant (BoP) equipments like ash-handling plants. Both the companies will invest Rs 5,000 crore in the venture over a period of five years

ITC Ltd is trading lower (1.33%) at Rs217.80. The company has revised prices of some select brands across the country last week and with this prices of three brands had gone up. Now premium brand Classic repriced at Rs88 from Rs80 earlier along with this Gold Flake brand was now priced at Rs 40 against Rs38 earlier and economy brand Silk Cut had also been revised upwards marginally from Rs20.

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